this post was submitted on 07 Sep 2023
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@downpunxx LOL. That would be Musk's wildest dream. The just compensation he would get would be astounding. Better to tax his space stuff...enough so that we could afford the regulatory apparatus sufficient to protect ourselves from it......
There's a SCOTUS case that says the government only has to pay a fair market value, not the "inflated by the government's need for the property" value. In the case a guy had bought a tugboat and fixed it up quite a bit. When WW2 started the government sought to buy it, and he insisted on a price well above the cost of the boat and the improvements, arguing that WW2 had increased demand so he should get a higher price.
So Musk would get a lot, but maybe not as much you'd think.
@jonhendry Yeah...but such a trial may require a jury, and that uncertainty very often ups the market value considerably above FMV. It would be stupid to nationalize, given the property is not unique (like real property), presents no barrier to entry. Besides, regulation and taxation are available.